Lombard Odier Asset Management Europe Ltd Invests $8.25 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Lombard Odier Asset Management Europe Ltd bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,017 shares of the company’s stock, valued at approximately $8,245,000.

Several other hedge funds have also modified their holdings of the company. O Dell Group LLC raised its stake in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its position in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares in the last quarter. Finally, Hilltop National Bank grew its stake in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,103.75 on Monday. The firm has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The stock has a 50-day simple moving average of $1,899.17 and a two-hundred day simple moving average of $1,692.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business earned $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MELI shares. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald initiated coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price for the company. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,207.31.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.